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Russian inflation expectations jump to 11.1% with rate decision imminent
2023-07-18 11:05:07

MOSCOW (Reuters) - Inflationary expectations for the year ahead among Russian households climbed to 11.1% in July from 10.2% in June, the central bank said on Monday, just days before it is widely expected to raise its key interest rate from 7.5%.


A Reuters poll on Monday suggested the Bank of Russia would hike rates to 8% at its meeting on Friday, increasing the cost of borrowing for the first time in over a year as the rouble's sharp slide adds to inflationary pressures.


The central bank targets inflation at 4%, which it aims to achieve by next year. It has forecast inflation will fall to 4.5%-6.5% this year.